An article from the Press-Enterprise reports that banks are opting for more short sales compared to loan modifications and foreclosures.

A short sale was a term most people had never heard of just 5 years ago, but has become a main catch-phrase when talking about the currently housing market.  Short sales offer many benefits to home owners, including a smaller impact on their credit score compared to a foreclosure.  Short sales also offer benefits to banks, or the owners of the mortgage note.

Banks are in business to lend and invest their money.  They are not in business to own, maintain, improve, and sell property.  These are the roles they find themselves in after foreclosing on a home, and taking ownership.  This article goes on to say that it costs the bank less money to allow a short sale, then foreclose on the home and sell it on the open market.

To read the entire article, CLICK HERE

For more information or questions on short sales, you can CONTACT ME or visit www.ToddTurcotte.com

New Listing!  37 Ferris Ave # 5 was just listed for $1,350 / month.

This 2 BR apartment in Norwalk features off-street parking for 2 cars, and has a Washer / Dryer in the unit!

For more information about this 2 bedroom apartment, visit: http://cmls.paragonrels.com/publink/default.aspx?GUID=98f648d1-b192-42b9-ade4-8c25d453b5b4&Report=Yes

For any questions, or info about Norwalk real estate, visit www.ToddTurcotte.com

New Listing!  14 Woodbury # 2 was just listed for $1,550 / month.

This 2 BR apartment in Norwalk features: Hardwood floors, over 1,300 square feet, washer / dryer, dishwasher, an updated kitchen & bath, and available garage parking!

For more information about this specific Norwalk rental, visit: http://cmls.paragonrels.com/publink/default.aspx?GUID=790b790b-8e45-48dd-8b42-64997a1a8856&Report=Yes

For more information about this apartment, and every other rental in Norwalk, visit: www.ToddTurcotte.com

The $25 Billion that big banks will pay for their role in foreclosure fraud following the housing crisis is the biggest settlement with a single industry since big tobacco in 1998.

The settlement’s funds are aimed at helping struggling homeowners, and to pay down debt.  This move may help some homeowners struggling to keep their homes, but time will tell how much this single event will aid in the housing market’s recovery.

To read more from the New York Daily News, click HERE

For info about local Norwalk real estate, and real estate in lower Fairfield County, visit www.ToddTurcotte.com

Mortgage rates are still making headlines, and for good reason.

The average 30 year fixed rate recently hit 3.87%, which is the lowest 30 year fixed rate on record (records go back to the 1950’s).

Economists hope that low interest rates, coupled with prices that we haven’t seen since 2002, will lead to more sales and a rebound in the housing market in 2012.

For more information on these record rates, check out the MSNBC article, HERE.

Visit www.ToddTurcotte.com and contact me with any questions!

New testimonial!  See below for a testimonial from a recent rental client:

“Todd is a consummate professional – he is quick, courteous and delivers superb results. I was in need of an apartment with short notice, and he was immediately able to show me a range of options that met and exceeded my every need. He was a pleasure to work with on all fronts, and I highly recommend him for anyone looking for exceptional options and impeccable service. ”

– Arthur Matuszewski

A cigarette placed in a plastic cup of water started a huge Sunday morning blaze at the Silver Ridge Condo complex located at 8 Oakwood Avenue in Norwalk.

The fire has displaced 10 families.  For more information about the fire, read the article from the Norwalk Hour:

http://www.thehour.com/story/519254/smoldering-cigarette-caused-oakwood-avenue-blaze

For information on Norwalk area real estate, visit www.ToddTurcotte.com

* Picture and information credit of the Norwalk Hour:  http://www.thehour.com/

Taxes…  No matter how badly you hate them, you can’t escape them.

When filing your taxes this year, make sure that you take advantage of as many real estate tax breaks & deductions that you can.  Mortgage interest is the biggest one for most people, but there are others that should be considered before you file.

Trulia.com put together a good article on 9 of the best tax breaks / deductions involving real estate.  To read that article, CLICK HERE

For information about Norwalk-area real estate, and to ask me any questions, visit www.ToddTurcotte.com

New Listing!  16 Oakwood # 2 was just listed for $1,750 / month.

This 2 BR, 1.5 bath townhouse in Norwalk features a spiral staircase that leads to a loft!  This rental offers H/W floors on the 1st floor, a clean kitchen with dishwasher, and washer / dryer in unit.  You can walk to the Merritt 7 train station in about 5 minutes.

For more information about this specific unit, CLICK HERE

To inquire about this rental, and to search every other rental in Norwalk, visit www.ToddTurcotte.com

Just reduced!  9 Glenwood Ave # 4 was just reduced for $1,995 / month!

This BRAND NEW 2 BR townhouse features a granite kitchen with stainless steel appliances, 1.5 baths, and a 2 car attached garage!

For more information about this particular listing, CLICK HERE

For more information on Norwalk area real estate, and to browse every listing on the market, visit www.ToddTurcotte.com